Sunce hoteli d.d., Trpinjska 9, Zagreb, OIB: 06916431329 ("Sunce", "Company" or the “Acquiring Company”) hereby informs about the completion of the Merger of its subsidiaries, as the Company's New Shares began with trading on the Zagreb Stock Exchange on January 10, 2020.
In order to optimise its organisational structure, at its regular General Assembly held on June 28, 2019, the Company made a decision on the increase of its Share Capital by the amount of HRK 56,073,500.00 by issuing 560,735 new ordinary shares (“New Shares”) for the purpose of the Merger of companies Hotel Alan d.d., Hoteli Tučepi d.d., Hoteli Zlatni rat d.d. and Hoteli Brela d.d. ("Acquired Companies") into Sunce koncern d.d.
On December 31, 2019, the Merger of the Acquired Companies and the Increase of the Share capital of the Company was registered with the Court Register of the Commercial Court of Zagreb.
At the same time, amendment of the Company name has also been registered with the Court Register. The Company was renamed from SUNCE KONCERN d.d. za turizam i ugostiteljstvo i turistička agencija to SUNCE HOTELI dioničko društvo za turizam i ugostiteljstvo. The abbreviated company name is SUNCE HOTELI d.d.
The Company took all necessary actions to implement the Corporate Merger action and the increase of the Company's share capital in the CDCC system (Central Depository & Clearing Company) as soon as possible, as well as the listing of New Shares on the Official Market of the Zagreb Stock Exchange.
Consequently, on January 10, 2020, the CDCC implemented the Corporate Merger action as well as the increase of the Company’s Share Capital in its information system.
The New Shares were transferred to minority shareholders of the Acquired Companies in exchange for the shares they held in the Acquired Companies according to the Share exchange ratio and rules set out in the related Merger Agreement.
The Acquired Company’s shareholders who, according to the calculation of the shares following the exchange, had not received a whole number of the Acquiring Company’s shares, their number of exchanged shares had been rounded down to the nearest whole number by the Acquiring Company, and the difference had been calculated as a cash payment in proportion to the estimated value of the Acquired Companies’ shares.
Additionally, given that a number of New Shares remained unallocated to the Acquired Companies’ shareholders, 1,163 Shares had been allocated to the Company's own shares (0.0195% of the Company's Share capital).
Following completion of the Corporate Merger action, the new total Share capital of the Company amounts to HRK 595,458,500.00 and is divided into 5,954,585 shares, share ticker SUKC-R-A, with individual nominal amount of HRK 100.00.
Regarding the possibility of trading with the New Shares, the Zagreb Stock Exchange approved the listing of New Shares on the Official Market on January 8, 2020, and designated January 10, 2020 as the first trading day.
In conclusion, as a result of the Corporate Merger action, the Company increased the percentage of free-float and the number of individual shareholders, which combined should have a positive effect on the liquidity of the Companies’ shares.
As of January 10, 2020, the percentage of free-float in accordance with the Zagreb Stock Exchange Rules is 30.32%, while around 2,200 individual shareholders of the Company were registered in the CDCC system.
SUNCE HOTELI d.d.
Investor Relations
Source of information:
Sunce Hoteli d.d.
Trpinjska 9, 10000 ZAGREB
Tel: 01/3844-044
Fax: 01/3844-177
E-mail: ir@bluesunhotels.com
Web: www.bluesunhotels.com/investors
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